MHB How to calculate percentage lease rent for a store with varying monthly sales?

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To calculate the total rent for a store with a percentage lease of 2.5% based on gross monthly sales, first sum the sales for January ($3,500), February ($4,250), and March ($5,990), resulting in total gross sales of $13,740. Then, calculate 2.5% of this total, which amounts to $343.50. Alternatively, one could calculate 2.5% for each month individually and then add those amounts together, though this method involves more calculations. The correct total rent for the first three months is $343.50. Understanding this calculation is essential for effective financial planning in retail settings.
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A store Has a percentage lease at a rate of 2.5 percent of gross monthly sales. First -quarter sales were 3,500 for JAn. , 4,250 for Feb , and 5,990 for March. What was the total rent for the first three months?

A:\$276.50
B:\$319.25
C:\$343.50
D:\$424.25I will take any help I can even if you could explain the problem without giving me the answer.
I'm practicing for the asvab test and the book really don't explain every question they give.
 
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lindakw said:
A store Has a percentage lease at a rate of 2.5 percent of gross monthly sales. First -quarter sales were 3,500 for JAn. , 4,250 for Feb , and 5,990 for March. What was the total rent for the first three months?

A:\$276.50
B:\$319.25
C:\$343.50
D:\$424.25I will take any help I can even if you could explain the problem without giving me the answer.
I'm practicing for the asvab test and the book really don't explain every question they give.

They are asking for 2.5% of the total of the gross sales for those three months.

CB
 
If gross sales for each month was \$3,500, \$4,250, and \$5,990 what was the total gross sales? What is 2.5% of that?

Or, you could do it the other way- find 2.5% of each of those and then add but that requires a few more calculations.
 
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